Tax-Advantaged Accounts
Tidelands Health offers several accounts that allow you to pay for eligible expenses on a tax-free basis.
Health Reimbursement Account — HRA
The Tidelands Health medical plan includes a Health Reimbursement Account — HRA. The HRA is funded by Tidelands Health when you complete required wellness activities. You can use the funds to pay for eligible health care expenses.
Tidelands Health Contributions
Tidelands Health contributes to your HRA on October 1 at the start of each plan year, provided you completed YouCare Wellbeing Program activities by June 30. Our contribution amount depends upon your coverage tier:
| Medical Plan Coverage Tier | 2024–2025 Maximum HRA Contribution |
|---|---|
| Team member only | $750 |
| Team member + spouse | $1,000 |
| Team member + child(ren) | $1,000 |
| Team member + family | $1,000 |
Your HRA contributions will be loaded to a benefits card that you can use at the point-of-service to pay for qualified out-of-pocket medical, dental or vision expenses – deductibles, medical copays, prescription drug copays and coinsurance. You can roll over any unused HRA contributions to the next plan year, up to a maximum of $3,000.
Flexible Spending Accounts — FSA
Health Care FSA
The Health Care FSA allows you to set aside pretax dollars from your paycheck to pay for eligible medical, prescription, dental and vision care expenses, such as copays, coinsurance and deductibles. You can contribute between $100 and $3,200 in the 2024–2025 plan year. All of the funds you elect for the year are available October 1. You may not change your contributions mid-year unless you have a qualified life event.
How to Use Your Healthcare FSA
You’ll receive a benefits card from Flores & Associates loaded with your elected FSA annual amount, when you enroll, or if you previously enrolled, funds will be reloaded to your active benefits card. You can use the benefits card to pay providers directly, or you can submit a claim to get reimbursed later.
Plan carefully: As the current 2023–2024 plan year ends on September 30, 2024, you can roll over up to $610 on October 1, 2024, but any unused funds over that amount after September 30, 2024 will be forfeited. You have until December 31, 2024, to claim healthcare FSA expenses for the period you were enrolled between October 1, 2023–September 30, 2024.
Dependent Care FSA
The Dependent Care FSA allows you to set aside pretax dollars from each paycheck to pay for eligible child or elderly care expenses while you and your spouse work full-time. You can contribute between $100 and $5,000 in the 2024–2025 plan year. Funds are available as you contribute to the account each pay period. You may not change your contributions mid-year unless you have a qualified life event.
Note: Caregivers are required to provide tax ID numbers for expenses to be qualified.
How to Use Your Dependent Daycare FSA
You’ll pay for care up front and submit claims to Flores247.com to get reimbursed later.
Plan carefully: Unused FSA funds don’t carry over to the next year, per IRS regulations. You have until December 31, 2024, to claim Dependent Care FSA expenses for the period you were enrolled between October 1, 2023–September 30, 2024.